Laserfiche WebLink
Civic Center DevelopmentOpportunity to activate the civic center to generate additional tax revenue and provide new public facilitiesCity has land but no money for civic center developmentWe would like to avoid a Long Beach deal where the city rents a developer-owned buildingDevelopers will not engage unless they can generate a profitHousing generates profit for developers, but minimal tax revenueOffice space is “dead” and retail is on “life support” according to expertsFacilities such as convention center and stadium may not generate net revenue for the City (Riverside subsidizes convention center by $6 million annually)Potential strategies include:Explore additional land acquisition from other governmental entitiesExplore long-term leases of City land to generate revenue for construction debt51